Natixis Factor finds enthusiastic response for rare securitisation

Natixis Factor found solid demand among “classic” ABS investors on Wednesday morning for its factoring securitisation, FCT FAST, allowing the spread to be tightened and the tranche size to be increased.

  • 05 Dec 2012

Sole lead Natixis opened books on Wednesday morning at 105bp—110bp over one month Euribor for the triple-A rated class ‘A’ notes. They later revised that to 105bp over, and fixed the price at that level.

Moody’s provisional ratings report put the ‘A’ tranche at €850m from the outset, ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 81,261.11 236 11.54%
2 Bank of America Merrill Lynch 66,433.81 187 9.43%
3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%